There 2 things that stand out for me in all of this --1. If (as...

There 2 things that stand out for me in all of this --

1. If (as per the cash flow report) the unit operating cost is $1231 dmt of concentrate produced and the amount received from PLL is $900 (or a bit less if its SC of 5.4%) then to me it doesn't make any sense to continue to sell to PLL at what looks like a loss, per dmt. it's just not sustainable. I appreciate a deal has been struck for between $500 & $900 and there are other sales that boost the average selling price to $1895 - but it doesn't make sense for SYA to continue to churn out concentrate at max capacity under these constraints at what looks like virtually a break even operation. Maybe, that's why forward production guidance has been lowered. I mean, why go all out when economic & market conditions are this crook? --

2. Having a look at Piedmont's Annual report released earlier this year I spotted this --





Not exactly a 'kumbaya', we all get along, statement for an annual report is it? No 'we're delighted to announce...vertical integration is progressing well blah blah blah ' here . It's pretty us vs them. No mention of the joint venture there. They are not in unison on this matter. I doubt whether a carbonate plant will be built by this JV. Hydroxide might or something else could occur.--

If I've got some figures wrong above so be it, but you get the drift. The point I'm making is that it's not in Piedmonts interest for SYA to go under due to economic & cash liquidity issues over the next few months if prices don't improve. Now is the time in my view to hunker down, renegotiate deals and come to agreements on vertical integration approach that benefits both parties fairly going forward -- pretty soon.

Be good to hear some progress on these matters by JB at the AGM.